What is safemoon and how does it work?

SafeMoon is a cryptocurrency token created in March 2021 on the Binance Smart Chain blockchain. The token charges a 10% fee on transactions, with 5% redistributed (or reflected) to token holders and 5% directed to wallets in a different currency, Binance Coin (BNB), controlled by the coin's authors. SafeMoon was released in March 2021.

Is safemoon a speculative asset?

Safemoon developers manually manipulate the coin circulation to reduce the supply and maintain the demand. It was introduced in December 2021, and after that, the SFM coin price surged to an all-time high of $0.007232, but the price fell nearly 96% from its peak. Many experts think SFM is a speculative asset because it has no intrinsic value.

Is safemoon (SFM) a good crypto price prediction?

According to CoinMarketCap, the current ranking of Safemoon (SFM) is #2856, with a crypto market cap of $148,054,349. There are multiple viewpoints from experts. Some of them also forecast the bearish sentiment of their Safemoon crypto price prediction, which is worth pursuing.

Why should you invest in safemoon token?

It shows the uncertainty of long-term investment in such a volatile coin. SafeMoon token is a popular choice for crypto enthusiasts because Safemoon charges 10% of the transaction fee and redistributes 5% to its holders while the remaining 5% is added to the liquidity pool.